HomeMy WebLinkAboutOrdinance No. 19172ORDzNANCE NO . ( ` ~J .Z,
AN ORDINANCE AUTHORI~IN~ THE CITY 0~ EUGENE, ACTING
BY AND THROUGH THE EUGENE WATER & ELECTRIC BOARD,
TO ISSUE UP To $30,~QD,Q~Q AGGREGATE PRINCIPAL
AMOUNT OF REVENUE BANDS OR OTHER EVIDENCES OF IN-
DEBTEDNESS OF THE CITY, PAYABLE SOLELY FROM NET
REVENUES OR ANY PORTION THEREOF OF THE ELECTRIC
UTILITY SYSTEM OF THE CITY, OR FROM ANY OTHER
MONEYS LAWFULLY AVAILABLE THEREFOR, FOR THE PURPOSE
OF FINANCING ENERGY CONSERVATION MEASURES AND
UNDERTAKINGS QN BEHALF OF CUSTOMERS OF THE SYSTEM;
PROVIDING THAT NO BANDS 4R OTHER EVIDENCES OF IN-
DEBTEDNESS SHALL BE ISSUED UNLESS THE BONNEVILLE
POWER ADMINISTRATOR HAS AGREED To PAY THE PRINCIPAL
THEREOF AND INTEREST THEREON; AND PROVIDING FOR AN
EFFECTIVE DATE.
THE CITY OF EUGENE DOES ORDAIN AS FOLLt]WS:
Section 1. Authorization of Electric Utility System Revenue
Bonds. The City of Eugene, Oregon, acting by and through the Eugene
Water & Electric Board, is hereby authorized to borrow money and
issue revenue bonds or other evidences of indebtedness payable solely
from the net revenues or any portion thereof of the Electric Utility
System of the City, or from any other moneys lawfully available
therefor, at one time or from time to tune in an amount not to ex-
ceed in the aggregate $30,~~QQ,QQO, for the purpose of financing
energy conservation measures and undertakings on behalf of customers
of the Electric Utility System; provided, however, that none of the
bonds or other evidences of indebtedness shah. be issued unless the
Bonneville Power Administrator has agreed to pay the principal there-
of and interest thereon by agree~ent satis~act~ry t~ the Board and
the City Cpuncil. .
Section 2. Ter~1s and Conditions of Bonds. All terms and con-
ditions of the bonds or other e~ridences of indebtedness and the terms
Ordinance - 1
' ~
/g~~~
upon which the same may be sold shall be prescribed by ordinance.
However, such bonds or other evidences of indebtedness shall mature
not later than thirty years frog the date thereof and shall bear
interest at a net effective rate not to exceed thirteen per centum
~130~ per annum. Such bonds or other evidences of indebtedness
shall include a statement on their face to the effect: ~1} that
they do not in any manner constitute a general obligation of the
Eugene Water & Electric Board, or of the City of Eugene, or create
a charge upon the tax revenues of the City, or upon any other reve-
nues or property of the City, or property of the Board, but are a
charge upon and payable sale~.y from the revenues of the Electric
Utility System of the City, or any portion thereof, or from any
other moneys lawfully available therefor, pledged to the payment
thereof; X27 that the holders there®f may only look for repayment
to the revenues of the Electric Utility System which are pledged to
the payment thereof, and may not directly, ar indirectly, be paid or
compensated through the property of the City, or the Eugene Water &
Electric Board, or by or through the taxing power of the City.
Section 3. Effective Date. Zhis ordinance shall take effect
immediately upon its approval by the voters of the City of Eugene.
Passed by the City Council this
~7~day of
- ~uq
=
- u5'~' 1983
~
~
cr
-~sS~, City Recorder
Approved by the Mayor this
~~ day of ~ u,$ 1983
Mayor
Ordinance -~ 2.
/9/ ~-2
NaTzcE of s~ECTAL ELECT~o~
cTT~ of EUGENE
NQTICE is hereby ,given that a Special City Election will be
held in the City of Eugene, Oregon, on Tuesday, the 20th day of
September, 1983 from the hour of 8:00 o~c~.ock a.m, to~ the .hour of
S:OD a~clo~k p.m,Q, to be conducted by the Lane County Election De~
partment. This e~.ection is called for the purpose ofvoting an
the following measure of the City of Eugene o
N~EASURE ~l TZTLEn AUTHOR2~~NG ~30,OOO,OQO REVENUE
. ~ BONDS CR ~}THER INDEBTEDNESS FQR
ENERGY' CONSERVATION.
~UESTTC~N: Shall Ordinance No. I~t7~ be
appro~red, authorizing issuance .
~f $3a~aQ0,004 revenue bonds ar
other indebtedness of the City
of Eugene
PURFOSE: Appro~ral will allow issuance of
up to ~3fl,D00,000 aggregate prin-
. .
. ~ cipal amount of revenue bonds or
other e~ridences of City indebted
Hess, payable solely from net reve-
~nues of the City~s Electric Utility
System or other moneys lawfully
available therefor, to finance
- ~ energy conservation measures and -
. undertakings on behalf of Electric
Utility System customers; PROVIDED,
HOWEVER, NONE ~OF THE BANDS SHALL
- BE ISSUED UNLESS THE BOIVTNEVILLE
POWER ADMINISTRATOR HAS AGREED TO
pAY THE pRTNCIPAL T~3EREOF AND
INTEREST THEREON.
The voting places and Clerks of the election will be those
fixed by Lane County, Oregon. f
WARREN G. WANG, RECORDER
CITY aF EUGENE, OREGON
Notice.
.,
»~~z
~. `zin the Cit ~ of Eu ene to issue $30,000,000 in revenue
Authors g Y g
r indebtedness for energy conservation.
bonds or othe
cz~Y sALLaT
Vate.YES or NO Mark ~ in the Square for the Answer Voted For.
51 TITLE: AUTHaRZ~ING $30,040,x00 REVENUE
~~ BONDS OR OTHER INDEBTEDNESS FOR
ENERGY CONSER~'ATZON.
ESTION: Shall Ordinance No. ~~f7a be
QU
a raved, authorizing a.ssuance of
pp
$30,000,000 revenue bonds or other
indebtedness of the City of Eugene?
PURPOSE: A royal will allow issuance of up
pp
to $30,000,040 aggregate principal.
amount of revenue bonds or other
evidences of City indebtedness, pay~-
able solely from net revenues of the
City's Electric Utility System or
other moneys lawfully available
therefor, to finance energy conserva-
tion measures and undertakings on
behalf of Electric Utility System
customers PROVIDED, HOWEVER, NONE
QF THE BONDS SHALL BE ISSUED UNLESS
THE BONNEVZLLE POWER ADMINISTRATOR
HAS AGREED TO PAY THE PRINCIPAL
THEREaF AND INTEREST THEREON.
YES ~ J
I vote to
approve the
Measure.
No ~ ~
Z vote to
reject the
Measure